Old College Capital is the in-house venture investment fund of the University of Edinburgh.
The financing round was supported by Equity Gap, Scottish Investment Bank, Old College Capital and Hillhouse Group.
"MiAlgae has essentially taken a by-product from one industry and turned it into a solution for another industry. Through the application of biotechnology, MiAlgae is finding solutions to feed the world’s population, and with the global aquaculture industry set to double in size in the next ten years, this is a very promising business indeed."
The funding round was led by Mercia to support pre-clinical testing and manufacturing as the company prepares for clinical trials.
"Our goal is to bring much-needed improvement to the lives of three million dialysis patients. This investment allows us to take a big step towards this, and we are delighted to have won the backing of a consortium of smart, well-funded investors."
The funding round was led by Equity Gap alongside co-investors to build a pilot plant and expand the team.
"This is a huge deal for us,"
The round included participation from Kelvin Capital, Old College Capital, and the Scottish Investment Bank.
"Sofant was very pleased to secure NPI’s support and expand our investor base in this important funding round. We look forward to working with NPI in the future as we take our highly innovative SmartAntenna technology to the next level."
